Oct 02 2024 25 mins
In this episode of the Money Boss Parent Podcast, I’m excited to dive into a tool that can really help you manage your healthcare costs—Health Savings Accounts, or HSAs.
We’re going to break down how HSAs work, why they’re so useful, and how they can do more than just cover medical bills—they can actually help you save and invest for the future. I’ll walk you through how to qualify for one, the benefits of having an HSA, and how you can make the most of that triple-tax advantage.
Whether your employer offers an HSA or you’re thinking about opening one on your own, I’ve got tips to help you make the most of it.
Anna's Takeaways:
- Intro (00:00)
- Tax-Advantaged Nature of HSAs (03:15)
- Investment Strategies for HSAs (07:07)
- Choosing HSA Providers (16:31)
- Qualified Medical Expenses and Documentation (17:06)
- Long-Term Investment Strategies for HSAs (20:44)
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- Links mentioned in this episode
FREE GUIDE- Kid Money Boss: School isn’t teaching my son about Money. It’s up to us Parents. Here are 9 tools I am using to team my son, everything I never learned as a kid.
Where to open HSA accounts:
- Fidelity HSA - https://www.fidelity.com/go/hsa/why-hsa
- Lively - https://livelyme.com/
- Health Equity: https://www.healthequity.com/
- HSA Bank: https://www.hsabank.com/HSABank/Home-Page.html